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Question about the sale of SYNM to REGI as it relates to trading
Posted on 12/18/13 at 6:17 pm
Posted on 12/18/13 at 6:17 pm
Quick synopsis: Syntroleum (SYNM) agreed to sell off all of it's assets to Renewable Energy Group Inc. (REGI) late yesterday afternoon. In the deal, SYNM shareholders will receive approximately .40 shares of REGI per share of SYNM owned. SYNM closed the day @ $3.34 (up 35% on the day), while REGI closed @ $11.10.
So the way I see it, for every 2.5 shares of SYNM, shareholders will get 1 share of REGI (profit of around $2.75 per share).
Let's just say I put in an order for 1,000 shares of SYNM tomorrow, would I get to reap the benefits of this deal? I don't see anywhere that you have to be "vested" for a certain amount of time with SYNM, but it almost seems to good to be true. Am I missing something?
For those familiar, SYNM owns 50% of the Dynamic Fuels facility in Geismar, La. Or at least they did before this deal. Tyson foods owns the other half I believe.
So the way I see it, for every 2.5 shares of SYNM, shareholders will get 1 share of REGI (profit of around $2.75 per share).
Let's just say I put in an order for 1,000 shares of SYNM tomorrow, would I get to reap the benefits of this deal? I don't see anywhere that you have to be "vested" for a certain amount of time with SYNM, but it almost seems to good to be true. Am I missing something?
For those familiar, SYNM owns 50% of the Dynamic Fuels facility in Geismar, La. Or at least they did before this deal. Tyson foods owns the other half I believe.
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